Australia's Austal climbs to near 4-year high on $152 mln US Navy contract

Austal

23/09/2024 02:19

** Shares of Austal Ltd  ASB.AX  rise as much as 6.4% to
A$3.16, their highest since Oct 26, 2020
    ** The shipbuilder says it has been awarded a $152 million
contract by the U.S. Navy to invest in infrastructure that
supports production of submarines
    ** Co says contract provides funding to invest as a partner
in the a private investment fund that supports expansion of
production capacity of the U.S. submarine industrial base
    ** ASB stock up ~47% YTD
 

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))